In General, Which of the Following Competitive Structures Is an Organization

question 98

Multiple Choice

In general, which of the following competitive structures is an organization least likely to operate?

• A) Monopoly
• B) Monopolistic competition
• C) Oligopoly
• D) Elastic competition
• E) Pure competition

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Definitions:

Implied

In legal context, refers to obligations or rights that are not explicitly stated but are understood as a part of the agreement or contract.

Intervening Illegality

A situation where a change in law or illegal act by a third party prevents the fulfillment of a contract, thereby excusing performance by the contracted parties.

Embargo

A government order that restricts trade or exchange with a particular country or the exchange of specific goods.

Sophisticated Computer

A highly advanced and complex computer system capable of performing intricate tasks or simulations, often used in professional or research contexts.